“The reserve ratio is becoming costly for the central bank. The reserve requirements on foreign currency deposits will be slashed next week,” the people told Mediafax.
The reserve requirements were last lowered in January. The minimum requirements on local currency deposits were cut to 12% from 15% previously, while the ratio for foreign currency liabilities was reduced to 18% from 20%.
The mentioned people said the central bank would keep its benchmark rate unchanged at 3.5% for now. The key rate could be cut in the fall, if the annual inflation drops below 3%.
The European Central Bank recently cut its main interest rate to a record low of 0.15% and imposed a negative rate of -0.1% on bank deposits, in a move aimed at boosting inflation and kick-start lending in the eurozone.